Episode 50: TMBA 050 (LBP50) – A Naughty Way to Start Your Business for $300 – Part 2
Tropical MBA: Entrepreneurship & Founder Lifestyle
Dan Andrews; Ian Schoen
4.9 • 527 Ratings
🗓️ 14 January 2011
⏱️ 23 minutes
🧾️ Download transcript
Summary
Today, Dan and Ian continue their discussion on how to finally get started with your business for $300 or less (part 1 here). After deciding on your product, you will learn how to line out your product in more detail, come up with a unique selling proposition and test your product without actually producing it.
Dan & Ian also reveal a few naughty tricks that some of their friends used. Depending on your local laws, these tricks might be illegal. It’s your responsibility to check your laws. We do not encourage illegal activities.
This is the 50th anniversary episode of the Lifestyle Business Podcast. Expect a lot more to come in 2011.
Transcript
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| 0:00.0 | Hey, this is Dan. It's our 50th episode. I can't believe we've got here. We've been podcasting for over a year. We've got over 50,000 downloads. Thanks so much to everyone for listening, to giving us little commente-comantees, to giving us shouts on Twitter, to writing us emails. It's been extraordinarily rewarding. We are so stoked to do this podcast, and we feel like we're just getting started. |
| 0:36.6 | Yeah, buddy, welcome to the Lifestyle Business Podcast where we believe building a business is the ideal way to create more freedom and opportunity for you, your family, and those around. |
| 0:46.3 | Today, I am joined as per usual by my captain, my co-host, a man who believes that American muscle cars are the way to a lady's heart. |
| 0:53.9 | Welcome to the program, Ian. Yeah, buddy. If you guys stick around at the end of the episode, we'll teach you a dirty little Craigslist hack that can save you tons of time while surveying deals and how you can set up a world domination headquarters in your home for only 30 bucks. Ian, welcome to the program. It's Tuesday night. It's 8 p.m. We're sitting down like we said we would three times a week, getting started on the lifestyle business podcast, getting this stuff pumping. What's the news over there? Hey, Dan. Good to see you again. We just got back from a vigorous day of warehouse searching. Actually, you just got back from a vigorous day of warehouse searching. I just got back from a vigorous day of playing PS3.ons of issues bopping around in my head, but the primary one is Blackberry versus iPhone. |
| 1:32.6 | I've been now a Blackberry user for a week, and there's some things that I think are an |
| 1:36.7 | advantage to having the Blackberry. One is form factor. For me, being on the telephone an hour a day, |
| 1:43.3 | you want to be on a BlackBerry, so we don't have landlines in our business but if you want to not get a tired arm and you don't want to get a hot ear blackberry could be the way to go another thing i like about blackberry is that it automatically downloads your emails you don't do that thing where you click into your inbox and then you click back out and then it buzzes and you're looking at your other inboxes because you've got four of them set up and you're buzzing all over the place it's instant on the blackberry i like that i'm not sold on the keyboards like people who sort of grew up on the blackberry are it's pretty much inevitable that i'm going to go back to iphone here but i think as an purely office phone i've been pretty happy with the blackberry Of course, you can sort of toss it around a little bit, too, because it's not exactly as nice as the iPhone. I was about to say, well, this is good news for the company, because it sounds like you're not going to want the new iPhone. But as it turns out, you do want the new iPhone. I do want the new iPhone. What other concept that comes up in my mind is this idea of location independent. I've been reflecting Ian because I'm sort of back in my hometown after three years on the road. |
| 2:55.0 | Location Independent makes sense as sort of a genre of people that are going around and their income. Maybe it's not tied up with where they are. It's very different from being location arbitrary. What I've done for the last three years is although I've been sort of globe-trotting, I've been trotting right up to places that make sense for my lifestyle and what kind of business we're trying to create here. I'm not hanging out in random places, these places, they have something to do with what we're |
| 3:01.1 | doing and also spending time with my family. Obviously, that's not arbitrary at all. One of these |
| 3:05.4 | wonderful things that comes out of these lifestyle businesses is that I spent |
| 3:08.9 | a luxurious many weeks at home lounging around with my family. |
| 3:13.4 | Just an incredible experience, which makes me again think, this is not location arbitrary. |
| 3:17.9 | This is location freedom and having the ability to choose locations that help you to grow |
| 3:22.5 | relationships that are meaningful to you, whether |
| 3:24.7 | that's in your family or your business, and then build these relationships in places that are |
| 3:29.5 | meaningful for your business like us, the Philippines, and Vietnam and China. These places have |
| 3:34.0 | all played big roles in our business. When I think about location arbitrary, I always think about |
| 3:38.2 | vacation. The more business that I'm doing, the more compelled I am to take vacations where I can do business. |
| 3:43.5 | Right. The more trips that I go on and the more places I visit, the more I think about doing business while I'm there. |
| 3:48.4 | Yeah, absolutely. And you know what that does, Ian, is it makes your vacations 36% cheaper than anybody else's vacation. |
| 3:56.2 | So absolutely, make sure you're taking those trips on the business. You're getting some business done. Let's just move right on to the meat and potatoes here. Last episode we talked a little bit about a prescriptive way to start a business. A lot of people reading our bloggies, listen to our potties. They're thinking, man, that's great, but I don't got an idea for how to get started for a business. |
| 4:31.5 | Dig the principles, bros, but what are we going to do to get started? This is our prescriptive technique. Last episode, we talked about eight hours. That clock was ticking. Anybody who wants to email us tweak their basic idea that they came up within eight hours that they're feeling very insecure about at this moment. Feel free to do that. Yeah, this is free advice. |
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